Retail Best Practice in Nationwide

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Executive Development

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Document Information:
Title:	Retail Best Practice in Nationwide
Author(s):	David Hopkins
Source:	Executive Development, Vol. 6 Iss: 5
Author(s):	David Hopkins
Keywords:	Benchmarking, Building societies, Management styles, TQM
DOI:	10.1108/09533239310045599 (Permanent URL)
Publisher:	MCB UP Ltd
Abstract:	As part of its response to Total Quality, Nationwide Building Society discovered that much value added could be achieved through internal benchmarking. A cross-functional team was assembled and a process developed whereby the resulting “best practices” could be managed in such a way so as to influence managers' behaviours and attitudes towards continuous improvement. A programme of 16-week secondments for line managers was developed during which they could act as consultants to other branches. Two-hundred high potential locations were identified from across Nationwide's 700+ network and a two-month consultancy service was delivered over a period of 18 months during 1991/92. The Best Practice initiative achieved significant benefits and changes in behaviours particularly in the area of management style and now forms a formal part of Nationwide's continuous improvement methodology.